报告发布方：中金企信国际咨询 项目可行性报告&商业计划书专业权威编制服务机构（符合发改委印发项目可行性研究报告编制要求）-中金企信国际咨询：集13年项目编制服务经验为各 类项目立项、投融资、商业合作、贷款、批地、并购&合作、投资决策、产业规划、境外投资、战略规划、风险评估等提供项目可行性报告&商业计划书编 制、设计、规划、咨询等一站式解决方案。助力项目实施落地、提升项目单位申报项目的通过效率。 （1）全球汽车零部件行业发展现状分析：汽车零部件是汽车工业发展的基础，是汽车工业的重要组成部分。整车市场的新增产量决定了汽车零部件产业的 生产增量需求，而汽车保有量则决定了汽车售后服务市场对汽车零部件的需求。因此，从应用场景角度分类，可以将汽车零部件行业分为向整车制造商供货 的主机配套市场和用于零部件维修改装的售后服务市场。"主机配套市场+售后服务市场"模式为汽车零部件行业提供了巨大的发展空间。 20世纪80年代以来，随着发达国家汽车市场逐步饱和，竞争日益激烈，全球汽车产业链开始重构。汽车主机厂为争夺市场，把业务重点放在新车型研发和市 场营销上，逐渐剥离原有零部件业务，降低汽车零部件自制率，实行精细化生产。汽车零部件行 ...

Overview - The rapid rise of the new energy vehicle industry is driving the growth of the automotive magnesium alloy wheel hub sector, with increasing demand for lightweight components to alleviate range anxiety [1][9] - The market size of China's automotive magnesium alloy wheel hub industry is projected to reach 1.42 billion yuan in 2024, representing a year-on-year growth of 47.9%, although the current market share of magnesium alloy wheel hubs is less than 2% [1][9] Market Policies - China has implemented a series of policies to support the development of the automotive magnesium alloy wheel hub industry, creating a favorable policy environment [4] Industry Chain - The upstream of the automotive magnesium alloy wheel hub industry includes suppliers of magnesium alloys and coating materials, while the downstream primarily targets the automotive market, with new energy passenger vehicles being the largest demand source [5][7] Current Development - The automotive market in China is experiencing rapid growth, with production and sales of automobiles reaching 24.43 million and 24.36 million units respectively in the first nine months of 2025, showing year-on-year growth of 13.3% and 12.9% [7][8] Competitive Landscape - The industry is transitioning from "technical reserves" to "scale application," with few companies capable of mass production. Key players include Dewey Technology Co., Ltd., Baowu Magnesium Industry, and others [9][10] Development Trends - Continuous optimization of material formulations is expected, with a focus on combining magnesium with rare earths and carbon fibers to enhance performance [13] - Smart manufacturing processes will be integrated into production, utilizing AI and 3D printing technologies to improve efficiency [14] - Green production will become a core competitive advantage, with a focus on reducing carbon emissions and enhancing recycling systems [15] - Vertical integration of the industry chain will be pursued by leading companies to ensure supply stability and reduce costs [16]

Investment Rating - The report maintains a recommendation for the low-altitude economy sector [1] Core Insights - The U.S. Department of Transportation has released the "Advanced Air Mobility National Strategy 2026-2036" and the "Advanced Air Mobility Comprehensive Plan," aiming to position the U.S. as a leader in aviation by establishing a robust AAM system [4][5] - The report emphasizes that both Chinese and U.S. companies are highly competitive in the low-altitude economy, with Chinese firms leading in the eVTOL sector, and anticipates that both countries will dominate the global market [21][22] - The National Development and Reform Commission (NDRC) has established statistical classifications for the low-altitude economy, indicating a significant acceleration in its development [23][27] Industry Overview - The low-altitude economy encompasses four main categories: low-altitude manufacturing, low-altitude operations, low-altitude infrastructure and information services, and low-altitude supporting industries, with a total of 23 subcategories and 65 detailed classifications [23][24] - The "Low Altitude Economy and Its Core Industry Statistical Classification" aims to define the scope and scale of the low-altitude economy, fulfilling the statistical needs of various governmental and societal stakeholders [23][24] Performance Metrics - The Huachuang Transportation Low Altitude 60 Index rose by 4.6% in the week ending December 26, 2025, and increased by 20% over the year, outperforming the CSI 300 Index, which rose by 18.4% [32][33] - The report highlights significant individual stock performances, with notable increases in companies such as Guolian Aviation (32%), Xinjingang (23%), and Zhongfu Shenying (19%) [34] Investment Recommendations - The report suggests focusing on various segments of the low-altitude economy, including: 1. Manufacturing: Key players include Wan Feng Aowei (eVTOL and general aviation), Xirui (general aviation), and Yihang Intelligent (eVTOL) [41] 2. Supply Chain: Companies like Zongshen Power and Yingboer are highlighted for their roles in the aviation engine and electric control markets [41] 3. Low-altitude Digitalization: Companies such as Lais Information and Sichuan Jiuzhou are noted for their contributions to low-altitude digital infrastructure [41] 4. Operations: Companies like CITIC Haizhi and Xiangyuan Cultural Tourism are recognized for exploring commercial applications in low-altitude operations [42]

Core Viewpoint - The General Aviation ETF Huabao (159231) shows a stable performance with a 1.42% increase, indicating potential for a three-day upward trend [1]. Group 1: ETF Performance - As of December 26, at 10:00 AM, the ETF price increased by 1.42%, with a trading volume of 70,700 tons and a turnover rate of 5.16% [1][2]. - The ETF's net asset value is reported at 0.6315, with a premium rate of 1350% [2]. Group 2: Component Stocks - Guanglian Aviation leads the performance among component stocks with an increase of 18.1%, followed by Tianyin Electromechanical and Huali Chuantong with gains of 8.77% and 5.76% respectively [2]. - Conversely, Hangfa Power, Aerospace Nanhu, and Aileda experienced declines of 1.69%, 1.58%, and 1.4% respectively [2]. Group 3: Industry Developments - On December 25, 2025, companies in the aviation equipment sector announced ongoing advancements in core technologies such as aviation oxygen systems and onboard environmental control systems, enhancing military-civilian integration strategies [3]. - The commercial aerospace industry is accelerating, with increased low-orbit satellite launches and advancements in commercial rocket technology, indicating significant growth potential in the industry [3]. - The Chinese military industry is evolving into a new model driven by domestic demand, foreign trade expansion, and civilian applications, transitioning from cyclical growth to comprehensive growth [3]. Group 4: ETF Index Tracking - The Huabao General Aviation ETF passively tracks the General Aviation Index, with the top ten weighted stocks including Wanfeng Aowei, Aerospace Rainbow, and others [4].

当广州迎来又一轮冷锋过境，一场面向全省的低空经济产业热也在同期上演。 12月25日，珠江之畔、广交会堂外，一架架造型前卫的eVTOL（电动垂直起降飞行器）整齐列阵，吸 引众多与会者驻足。 在"2025粤港澳大湾区低空经济高质量发展大会"开幕当天，户外静态展区俨然成为未来低空经济的"样 板间"：万丰航空的VoloCity空中出租车与钻石HEMEP飞机并列展示；亿航智能的VT-35长航程载人航空 器首次公开亮相；广东云韬氢能科技的氢燃料倾转旋翼飞行器YT700展示了氢能科技新方向；广东空天 科技研究院的单人喷气飞行背包也引来多人围观……这些在大规模商用前蓄势待发的飞行器，已将未来 生活真实地停放在公众面前。 作为全国首个聚焦大湾区低空经济的高规格盛会，本次大会在集中展示低空经济产业发展成果的同时， 重磅发布《广东省低空空域管理改革实施方案》、金融支持12条等政策文件，推出涵盖空域申请、飞行 监控等全流程服务的广东省与广州市两级低空飞行综合管理服务平台，加之粤港澳三地多城市签署项目 合约，协同联动、优势互补。大湾区低空产业为何能领跑全国，其背后的核心支撑与发展密码在这场盛 会上已清晰呈现。 现场 物流、农业、能源无 ...

新华财经广州12月25日电（记者刘玉龙、吕光一）2025粤港澳大湾区低空经济高质量发展大会在广州中国进出口商品交易会展馆隆重举办。作为全国首个聚 焦大湾区低空经济的高规格盛会，大会以"创新引领、安全筑基、湾区先行"为主题，来自政府、学界、行业领袖及产业链核心企业代表共商低空经济发展大 计，为万亿级新赛道注入强劲动能。 大会设置了圆桌对话环节，来自全球低空经济领域的顶尖企业家、科学家等围绕"低空经济闭环发展路径及国际合作实践探索"这一主题进行讨论，把脉低空 经济高质量发展、跨境合作的机遇和挑战，并提出可行性建议。同日下午，大会举办五场平行专题报告会，涵盖安全、应用、治理、文旅等低空经济领域前 沿议题。 本次大会由广东省发展和改革委员会、广州市人民政府、香港发展低空经济工作组、澳门经济及科技发展局等联合指导，广州市发展和改革委员会、海珠区 人民政府、中国经济信息社、工信部电子五所、广东省低空经济产业发展有限公司、大湾区低空经济联盟（香港）、无人系统工程师协会（澳门）等共同主 办。 编辑：尹杨 广东将低空经济作为培育新质生产力、实现高质量发展的重要抓手，聚焦机制建设、空域改革、基础设施、产业布局、应用场景等多点发力 ...

证券日报网讯12月22日晚间，万丰奥威（002085）发布公告称，公司将于2026年1月8日召开2026年第一 次临时股东会。 ...

Core Viewpoint - Wan Feng Ao Wei's stock price has experienced a decline of 18.72% year-to-date, with recent trading showing mixed performance, indicating potential volatility in the market [1][2]. Group 1: Company Overview - Zhejiang Wan Feng Ao Wei Automotive Wheel Co., Ltd. was established on September 30, 2001, and went public on November 28, 2006 [2]. - The company specializes in lightweight automotive metal components primarily made from aluminum, magnesium, and high-strength steel, accounting for 80.82% of its revenue, while general aviation aircraft manufacturing contributes 19.18% [2]. - Wan Feng Ao Wei operates within the automotive industry, specifically in the automotive parts sector, and is associated with concepts such as carbon neutrality, energy conservation, and offshore wind power [2]. Group 2: Financial Performance - For the period from January to September 2025, Wan Feng Ao Wei reported a revenue of 11.416 billion yuan, reflecting a year-on-year growth of 0.40%, and a net profit attributable to shareholders of 729 million yuan, which is a 29.38% increase [2]. - The company has distributed a total of 4.016 billion yuan in dividends since its A-share listing, with 950 million yuan distributed over the past three years [3]. Group 3: Shareholder and Market Activity - As of September 30, 2025, the number of shareholders decreased to 223,300, a reduction of 8.64%, while the average number of circulating shares per person increased by 9.46% to 9,509 shares [2]. - The stock has seen significant trading activity, with a net outflow of 31.39 million yuan in principal funds recently, and notable fluctuations in large order buying and selling [1].

信息披露暂缓与豁免管理制度 第一章 总 则 浙江万丰奥威汽轮股份有限公司 第一条 为规范浙江万丰奥威汽轮股份有限公司（以下简称"公司"）信息披露 暂缓与豁免行为，确保公司及相关信息披露义务人（以下简称"信息披露义务人"） 依法合规地履行信息披露义务，保护投资者的合法权益，根据《中华人民共和国公 司法》、《中华人民共和国证券法》、《上市公司信息披露管理办法》、《上市公司信息 披露暂缓与豁免管理规定》、《深圳证券交易所股票上市规则》（以下简称"《股票上 市规则》"）等有关法律、行政法规、部门规章、规范性文件以及《浙江万丰奥威汽 轮股份有限公司章程》（以下简称"《公司章程》"）、《信息披露事务管理制度》的规 定，结合公司实际情况，特制定本制度。 第二条 公司按照《股票上市规则》及交易所其他相关业务规则的规定，办理 信息披露暂缓、豁免业务的，适用本制度。 第三条 公司及相关信息披露义务人应当真实、准确、完整、及时、公平地披 露信息，不得滥用暂缓或者豁免披露规避信息披露义务、误导投资者，不得实施内 幕交易、操纵市场等违法行为。 第二章 信息披露暂缓与豁免的范围及条件 第四条 公司及相关信息披露义务人有确实充分的证据证明 ...

浙江万丰奥威汽轮股份有限公司 董事、高级管理人员离职管理制度 第一章 总 则 第一条 为规范浙江万丰奥威汽轮股份有限公司（以下简称"公司"）董事、 高级管理人员离职相关事宜，确保公司治理结构的稳定性和连续性，维护公司及股 东的合法权益，公司根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》、《深圳证券交易所股票上市规则》等法律、行政法规、 部门规章、规范性文件及《浙江万丰奥威汽轮股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，结合公司实际情况，特制定本制度。 第二条 本制度适用于公司董事（含独立董事、职工代表董事）、高级管理人 员因任期届满、辞职、被解除职务或其他原因离职的情形。 第二章 离职情形与程序 第三条 公司董事和高级管理人员可以在任期届满以前辞职，董事和高级管理 人员辞职应当向公司提交书面辞职报告，辞职报告中应说明辞职原因，公司收到辞 职报告之日辞职生效，公司将在两个交易日内披露有关情况。 第四条 如存在下列情形，在改选出的董事就任前，原董事仍应当依照法律、 行政法规、部门规章和《公司章程》的规定，继续履行董事职责，但存在相关法规 另有规定的除外： （三） ...